Applied Fundamental Research LLC Has $14.97 Million Stake in Nomad Foods Limited $NOMD

Key Points

• Applied Fundamental Research LLC reduced its stake in Nomad Foods Limited by 5.0% during the 2nd quarter, owning 881,092 shares worth about $14.97 million, making it the fund's 3rd biggest position.
• Nomad Foods reported earnings of $0.45 per share for the last quarter, exceeding analysts' expectations and achieving a revenue of $879.27 million, which is 0.8% lower than the same quarter last year.
• The company announced a quarterly dividend of $0.17, resulting in an annualized dividend yield of 5.5%, with a payout ratio currently at 46.58%.

Applied Fundamental Research LLC lessened its stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 881,092 shares of the company's stock after selling 46,699 shares during the period. Nomad Foods accounts for approximately 13.3% of Applied Fundamental Research LLC's holdings, making the stock its 3rd biggest position. Applied Fundamental Research LLC owned 0.57% of Nomad Foods worth $14,970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Nomad Foods by 11.1% during the first quarter. Boston Partners now owns 10,209,283 shares of the company's stock valued at $200,615,000 after buying an additional 1,019,957 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Nomad Foods by 0.8% during the 1st quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock valued at $165,890,000 after acquiring an additional 66,060 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Nomad Foods by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company's stock valued at $134,096,000 after acquiring an additional 254,314 shares during the last quarter. Victory Capital Management Inc. lifted its position in Nomad Foods by 17.3% during the first quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company's stock valued at $53,544,000 after purchasing an additional 402,599 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Nomad Foods by 46.2% during the first quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company's stock valued at $36,376,000 after purchasing an additional 585,054 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

Nomad Foods Trading Up 2.3%

Shares of NOMD opened at $12.41 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. The company has a 50-day moving average of $14.21 and a 200 day moving average of $16.75. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 8.50 and a beta of 0.70. Nomad Foods Limited has a 1-year low of $11.94 and a 1-year high of $20.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The business had revenue of $879.27 million for the quarter, compared to the consensus estimate of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The business's revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. On average, research analysts expect that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, August 11th. Nomad Foods's payout ratio is presently 46.58%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. BTIG Research lowered their price target on shares of Nomad Foods from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Mizuho lowered their target price on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Barclays lowered their target price on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Weiss Ratings restated a "hold (c)" rating on shares of Nomad Foods in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, September 29th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.75.

Nomad Foods Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.

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